Tag Archive: mexico

Mexico’s central bank governor has said it has “experimented” with Bitcoin with a view to possible regulation. Carstens: Bank Has ‘Tested’ Bitcoin Quoted by local news source Sobre Bitcoin, Bank of Mexico governor Agustín Carstens confirmed “small amounts” had formed the basis of an investigatory push to understand how cryptocurrency works in practice. “There have been learning efforts, [Bitcoin] has not been used in any instance to perform central banking operations, rather there have been experiments

United Arab Emirates’ National Bank of Abu Dhabi (NBD) has unveiled a partnership with Ripple to begin cross-border remittances via blockchain technology. UAE Taps Bank-Blockchain Pioneer The move, announced Wednesday, means NBD is the first Middle East and North Africa sector bank to commence operations with the technology. “Blockchain technology transforms and paves a new way in achieving our goals and better serve our customers, adding value through accessibility and transparency,” CPI Financial quotes Ramana Kumar, Managing Director

Mexico’s biggest cash cow is under siege as Donald J. Trump threatens to tax or halt remittances to the country in order to pay for his border wall. Western Union Shares Dive Following Trump’s executive order to start building the southern border wall issued on Wednesday, markets are already taking into account the possibility of a tax on remittances from the U.S. to Mexico. This is already being felt by such remittance giants as Western Union whose shares dropped 2.44% today. As a

Trading volumes continue to break records in Mexico as citizens look for ways to escape Peso inflation, lack of financial services and the recent 20% gasoline price hike. Mexico Wants Bitcoin Just last month, Mexican exchange Bitso reported record-breaking trading volume in the BTC/MXN market. Fueled by the recent BTC price surge and the economic uncertainty that rules the country, citizens are turning to Bitcoin as a means to protect their savings from the peso’s

Mexican businessman Hugo Salinas-Price founded Mexico’s Elektra retail chain, which has more than a billion in revenue annually. Obviously, Elektra, whose current head is Hugo’s son Ricardo Salinas Pliego, is one of the largest retailers in Mexico. Also read: Why JP Morgan’s CEO Sees Bitcoin as Unimportant Salinas-Price is the President of the Asociación Cívica Mexicana Pro-Plata A.C., founded in 1997. He is a big proponent of precious metals; in particular he advocates for the

A recent article from the media site El Universal has incorrectly espoused that Bitcoin is now banned in Mexico per a recent decision by the Mexican Tax Administration Services (SAT). The Mexican SAT, the equivalent of the United States IRS, has not banned Bitcoin. Instead, it has merely clarified that the existing bans on large transactions using cash (heinous in and of themselves), also apply to Bitcoin. Also read: Snoop Dogg Learns One Reason Why